What do you think about...
INCENTIVES FOR NEW OR EXPANDING BUSINESSES?
DID YOU KNOW?
Council is considering ways to drive economic development in the Town of Rocky Mountain House.
Economic development is the first objective of Council’s Strategic Plan. Economic Development involves programs, polices and activities that seek to improve the general economic well-being and quality of life for our community.
Over the past year, Council has made progress on its Strategic Objective by identifying land that is ‘shovel-ready’ for development, reviewing similar incentives provided by other municipalities and consulting with owners of potential development properties in Town. More recently,
Council directed administration to draft a bylaw allowing non-residential property tax incentives for new industrial and commercial development and expansion. The draft is now ready for public review and Council’s consideration.
SO WHAT IS ACTUALLY BEING CONSIDERED?
New commercial or industrial developments, or expansions of existing developments, with assessed values of $100,000 or more could apply for a one-year tax exemption.
Developments valued over $250,000 could see a 100 per cent tax exemption in year one, and a 50 per cent tax exemption in year two.
Higher-valued developments would be eligible for up to 5 years of tax exemptions, as follows:
COUNCIL WANTS TO HEAR FROM YOU!
Do you support this concept? Do you have any suggestions to improve it? Do you have other ideas for incentives to drive development in Rocky Mountain House? Council values all input from residents and property-owners.
There are several ways to get in touch:
Attend Coffee with a Councillor. The next session will be held on Thursday, April 27 from 5:30 to 8:00 pm at the South Tim Hortons (4403-41 Street)
Drop by the PUBLIC MEETING on Tuesday, May 2, from 10 AM to noon, in Council Chambers (5116-50 Avenue) to talk with Council.
Or submit feedback via the online form below.
Based on public feedback, Council may consider first reading of a non-residential tax incentive bylaw for new development and expansion as soon as May 16, 2023, or Council may choose not to proceed.